WEST virginia legislature

2026 regular session

Introduced

House Bill 4833

By Delegates Moore, Shamblin, Hall, and Bell

[Introduced; referred

to the Committee on]

A BILL to amend and reenact §8-37-3 of the Code of West Virginia, 1931, as amended, relating to removing the 30% cap on municipal stabilization funds.

Be it enacted by the Legislature of West Virginia:

ARTICLE 37. MUNICIPAL FINANCIAL STABILIZATION FUND ACT.

§8-37-3. Budget stabilization fund; creation; appropriation; maximum.

(a) A municipality may create a financial stabilization fund by a majority vote of its governing body. The fund may receive appropriations, gifts, grants and any other funds made available.

(b) The governing body may appropriate a sum to the fund from any surplus in the General Fund at the end of each fiscal year or from any other money available.

(c) The amount of money in the fund may not exceed thirty percent of the municipality's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the governing body shall transfer the excess to any fund it considers appropriate.

NOTE: The purpose of this bill is to remove the 30% cap on municipal stabilization funds.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.